Guys,
Any one tracking the stock?
I see a lot of value at this price and see this is a great turn around story.
Does anyone know which companies are part of NPA Accounts.
Jammu-and-Kashmir-Bank_160119.pdf (387.7 KB)
Anand Rathi has a very positive outlook on the stock…worth wathching the space, no MF exposure. Only one foreign fund seems to have some exposure
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How is current set of allegations affect the bank ?
Bank was finally showing some sign of revival from last couple of qtrs but these new events derailed the process it seems.
Can somebody explain why market is reacting so negatively to bringing the Bank under RTI and beginning the clean up of the bank. Isn’t that a good thing for long term investors.
Thanks
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J&K Bank is another of the Banks that have risen faster than the India’s private rocket. Today it has ended at 46. To apply my today’s learning to it, the price to book value makes it an attractive investment. The Book Value is 85.6. Its one year journey shows that the share has seen quite a few ups and downs.
The screenshot shows that the Bank is trying to solve the tricky issue of NPAs.
The quarterly results for the quarter ending September are also good. Total income during the quarter rose to Rs 2,444.59 crore from Rs 2,184.20 crore a year ago. the bank reported a 119.31 per cent year-on-year (YoY) surge in profit after tax (PAT) at Rs 243.64 crore in the September quarter compared with Rs 111.09 crore in the corresponding quarter last year. Interest income grew 15.5 per cent to Rs 2,298.85 crore during the quarter.
NPAs at 7.67 % in the September quarter compared with 9.09% in June and 8.95 per cent in the year ago quarter.
J&K Bank has definitely made strides.
No recommendation.
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JK bank has been showing healthy results since past many quarters. Asset quality has been improving q-on-q and ROA have been trending up. Management expects to exit FY 24 with ROA exceeding 1%, Gross NPA below 4.5% and Net NPA below 1%.
Looking at the results of first two quarters, above targets look achievable In the last concall management gave an aspirational target of net profit of 4000 crores by FY 28, which is nearly 3 times current annual profit levels.
Attached q2 fy 24 results press release has all the details .
disc: invested as a techno funda bet.
JK Bank q2 fy 24 press release.pdf (281.7 KB)
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